Kosmos Energy Ltd. (KOS): debt financing — Kosmos Energy amends RBL: size to $1.35B, maturity extended to Dec 2029

Kosmos Energy Ltd.

Facility size increased from $1.25B to $1.35B; commitments ~$1.2B, expected to reach $1.35B as lenders complete approvals.
Maturity extended to Dec 31, 2029; amortization begins Apr 1, 2027 with semi-annual equal payments.
Interest margin raised by 0.25-0.50%; financial covenants tightened: Loan Life Cover Ratio to 1.30x after Sep 2027, Field Life Cover Ratio to 1.50x.
Revolving credit facility reduced from $250M to ~$165M; commitments transferred to A&R RBL; RCF maturity unchanged (Dec 31, 2024).
Expected fees and expenses ~$18M (~1.5% of commitments), amortized over term.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Kosmos Energy Ltd. amended revolving credit of $1.35 billion at increase in the interest margin by 0.25% or 0.5% maturing December 31, 2029.

Instrument: revolving credit
Principal: $1.35 billion
Rate: increase in the interest margin by 0.25% or 0.5%
Maturity: December 31, 2029
Event: amendment

Exact text from the filing

an increase in the Field Life Cover Ratio to 1.50x from 1.30x. As a result of these amendments (i) total facility size under the A&R RBL has been increased from $1.25 billion to $1.35 billion and (ii) total commitments are approximately $1.2 billion, with the Company expecting to increase total commitments to $1.35 billion as additional lenders complete their final

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Kosmos Energy Ltd. amended A&R RBL valued at $1.35 billion (effective 2024-04-25).

Action: amendment
Agreement: credit facility
Value: $1.35 billion
Effective: 2024-04-25

Exact text from the filing

On April 25, 2024, Kosmos Energy Ltd. (the “ Company ”) amended and restated its existing commercial debt facility by entering into an amended and restated facility agreement (the “ A&R RBL ”) and certain ancillary documents.

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Source: SEC EDGAR

accession 0001509991-24-000031

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